EURUSD-H4 - Trend analysis 2020/05/24

SYM: EURUSD-H4
Time: 2020/05/24 00:00:00 UTC
Trend Analysis

This analysis will be expired by taking place a week after this date or breaking the largest resistance, the smallest support or the long term trend.

• Trend’s Analysis

Term .................... Trend
Short (STTL).................... Mid Bearish
Mid (MTTL) .................... Mid Bullish
Long(LTTL) .................... Mid Bullish

o The most recently confirmed Uptrend line in Very Long Term for EURUSD_H4 is Mid Bullish-LTTL. It was made at 1.06311, 270 candles ago, and confirmed at 1.07477,123 candles ago and confirmed again at 1.7727. A break below this trend line (particularly on heavy volume) would be a Bearish sign.
o The most recently confirmed downtrend line in the Long Term for EURUSD_H4 is Very Weak Bearish-LTTL. It was made at 1.11439, 210 candles ago, and confirmed at 1.09978,8 candles ago. A break above this trend line (particularly on heavy volume) would be a Bullish sign.
o EURUSD_H4 broke above the Mid Bearish-MTTL at 1.08836, 25 candles ago. This is a Bullish sign. This Downtrend line may now provide downside Support. The volume on the candle of the breakout was Volume on the day of the breakout was heavy (85% above average).
o EURUSD_H4 broke above the Mid Bearish-LTTL1 at 1.08535, 25 candles ago. This is a Bullish sign. This Downtrend line may now provide downside Support. The volume on the candle of the breakout was Volume on the day of the breakout was heavy (85% above average).
o The most recently confirmed Uptrend line in Mid Term for EURUSD_H4 is Mid Bullish-MTTL. It was made at 1.07719,37 candles ago and confirmed on 32, 26 and 1 candles ago.
o The current market condition for EURUSD_H4 is: Bullish
• The close is currently below its 30 periods moving average. Prices broke below 30 periods moving average at 1.09152, 3 candles ago. This is a Bearish sign. The volume on the candle of the breakout was neither extremely heavy nor extremely light (7% below average). This moving average line may now provide downside Resistance.
• The close is currently above its 90 periods moving average. Prices broke above 90 periods moving average at 1.08524, 25 candles ago. This is a bullish sign. The volume on the candle of the breakout was heavy (10% below average). This moving average line may now provide downside Support.
• The close is currently above its 200 periods moving average. Prices broke above 200 periods moving average at 108687, 25 candles ago. This is a bullish sign. The volume on the candle of the breakout was heavy (10% above average). This moving average line may now provide downside Support.

• Supports and Resistance
Supports
Price .................... Power
1.08836.................... Weak
1.08202.................... Mid
1.07850.................... Very Weak
1.07460.................... Extremely Weak
1.06978.................... Weak

o EURUSD_H4 broke above the Upside Weak Resistance level of 1.08836, 25 candles ago. The previous resistance level of 1.08836 may now provide upside Weak Support. This level is important for traders. The volume on the candle of the breakout was heavy (85% above average). We will expect that price has some difficulties to break down this level.
o EURUSD_H4 broke above the Upside Very Weak Resistance level of 1.08202, 26 candles ago. The previous resistance level of 1.08202 may now provide downside Mid Support. This level is important for traders. The volume on the candle of the breakout was neither extremely heavy nor extremely light (8% below average).
o The most recently confirmed downside Very Weak Support level for EURUSD_H4 is around 1.07850. EURUSD_H4 broke above this level on 122 candles ago. The volume on the candle of the breakout was neither extremely heavy nor extremely light (4% above average). We will be expected that the price has some difficulties to break down this level. This Level played a support level role on 36 and 52 candles ago. Break below this level (particularly on heavy volume) is a Bearish sign.
o The most recently confirmed downside Extremely Weak Support level for EURUSD_H4 is around 1.7460. EURUSD_H4 broke above this level on 264 candles ago. This Level played a support level role on 94 candles ago. The volume on the candle of the breakout was heavy (96% above average). We will be expected that the price has some difficulties to break down this level.
o The most recently confirmed downside Weak Support level for EURUSD_H4 is around 1.06978. EURUSD_H4 broke above this level on 268 candles ago. We will be expected that the price has some difficulties to break down this level. Break below this level (particularly on heavy volume) is a Bearish sign.
• Resistances
Price .................... Power
1.09645.................... Mid
1.09942.................... Mid
1.10209.................... Mid
1.10710.................... Very Strong
1.11184.................... Strong

o The most recently confirmed upside Mid Resistance level for EURUSD_H4 is around 1.09645. EURUSD_H4 broke below this level on 59 candles ago. The volume on the candle of the breakout was quite light (40% below average). We will be expected that the price has some difficulties to break up this level. Break above this level (particularly on heavy volume) is a Bullish sign.
o The Second confirmed upside Mid Resistance level for EURUSD_H4 is around 1.09942. EURUSD_H4 broke below this level on 225 candles ago. The volume on the candle of the breakout was light (14% below average). We will be expected that the price has some difficulties to break up this level. Break above this level (particularly on heavy volume) is a Bullish sign. This level is important for traders
o The Third confirmed upside Mid Resistance level for EURUSD_H4 is around 1.10209. EURUSD_H4 broke below this level on 91 candles ago. The volume on the candle of the breakout was light (12% below average). We will be expected that the price has some difficulties to break up this level. Break above this level (particularly on heavy volume) is a Bullish sign. This level is important for traders.
o The most recently confirmed upside Very Strong Resistance level for EURUSD_H4 is around 1.10710. EURUSD_H4 broke below this level on 91 candles ago. The volume on the candle of the breakout was Heavy (91% above average). We will be expected that the price has some difficulties to break up this level. Break above this level (particularly on heavy volume) is a Bullish sign. This level is important for traders and Analysts.
o The most recently confirmed upside Strong Resistance level for EURUSD_H4 is around 1.11184. EURUSD_H4 broke below this level on 291 candles ago. We will be expected that the price has some difficulties to break up this level. Break above this level (particularly on heavy volume) is a Bullish sign. This level is important for analysts.
• Momentum Indicators
o Stochastic Oscillator
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 14.2135. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a Bullish, 19 candles ago.
o Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 45.47. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a Bearish, 7 candles ago.
o Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -114. This is an oversold reading. However, a signal isn't generated until the indicator crosses above -100. The last signal was a Bearish, 7 candles ago.
o MACD
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9-period signal line. The last signal was a Bearish, 7 candles ago.
Crossovers
Currently the MACD is Bearish since it is trading below its signal line. The MACD crossed below its signal line 7 candles ago. Since the MACD crossed its moving average, EURUSD_H4's price has decreased by 0.48% and has ranged from a high of 1.099 to a low of 1.088.
Overbought/Oversold
The MACD is not in an Overbought/Oversold range.


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This commentary is not a recommendation to buy or sell, but rather a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. Orbital accepts no liability whatsoever for any loss arising from any use of this analysis or its contents.
EURUSDresistencesupportSupport and ResistanceTrend Analysis

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